General Discussion
In reply to the discussion: Joseph Stiglitz to Greece’s Creditors: Abandon Austerity Or Face Global Fallout [View all]randome
(34,845 posts)In the political realm, if you don't honor your debts for whatever reason, no one wants to do business with you. And if it was easy for a country to declare bankruptcy without consequence, everyone would soon be doing it and the entire world would know what it's like to be Greece.
Countries trade and finance on an enormous scale. They're not comparable to individuals at all.
If the bankers miscalculated, then so did Greece. Why did they join the EuroZone if they didn't want to stay? They have waited for so long that now it's either:
1. Austerity
2. Monetary collapse and jolting the world economy.
These are not the socialist revolutionaries who will lead us into a new era. Any leader who finally quits leading and puts an important matter like this to a vote is lazy and ultimately as worthless as a bent drachma.
[hr][font color="blue"][center]You have to play the game to find out why you're playing the game. -Existenz[/center][/font][hr]